SSE Airtricity Buys Stake In Activ8 Solar
SSE Airtricity has entered in to an agreement to acquire 40 per cent of Activ8 Solar Energies, one of Ireland's leading suppliers of Rooftop Solar systems to homand business customers.
Under the terms of the agreement SSE Airtricity will have an option to acquire an additional 10 per cent shareholding in Activ8 Solar Energies after two years. The existing Activ8 management team will lead this business, which will continue to trade as at Activ8 Solar Energies.
The acquisition is subject to approval by the Competition and Consumer Protection Commission, and SSE Airtricity expects to complete the purchase in the coming months.
Activ8 Solar Energies is based in Carrickmacross, Co.Monaghan and employs around 40 people directly including engineers, plumbers, and electricians and utilises the services of a team of sub-contractors. The company has been in business for over ten years and has supplied and installed over 7,000 solar energy systems so far across the island of Ireland.
In 2016 Activ8 Solar Energies was selected by SSE Airtricity Energy Services as a preferred partner in the delivery of SEAI-supported domestic and community-based retrofit schemes. Commercially, Activ8 partnered with SSE Airtricity in 2017 to install a 1,400-panel rooftop array covering more than 2,300m2 and generating 420 kilowatt peak (kWp) of solar energy at The SSE Arena, Belfast.
Stephen Gallagher, SSE Airtricity's Director of Business Energy, said:
"We're delighted to announce this acquisition by SSE Airtricity of 40 per cent of Activ8 Solar Energies which marks yet another significant step forward in the development of our growing commercial and domestic energy services offering. Activ8 is one of the leading Rooftop Solar companies in Ireland, and since 2016 our two companies have worked in partnership to deliver large-scale deep retrofit projects, whether under the Better Energy Communities programme or with innovative energy-generating installations such as our roof-mounted solar PV array at The SSE Arena, Belfast.
"Activ8 has a very strong team which is the driving force behind the company's success. Now, subject to approval by the Competition and Consumer Protection Commission, Activ8 and SSE Airtricity are poised to bring our combined strengths and unique offerings to a much-wider domestic and commercial customer base, including SSE Airtricity's 750,000 energy supply customers across the island."
Ciaran Marron, Chief Executive of Activ8 Solar Energies, said:
"The acquisition being announced today further cements Activ8's position as one of the leading providers of Rooftop Solar solutions in Ireland. Since 2007, we have successfully grown our electrical contracting business to become one of Ireland's top installers of solar energy systems. We are proud of our exceptional knowledge and experience in the rooftop solar industry, and particularly of the contribution that our dedicated and highly-skilled workforce of 40 employees have made towards our growth to-date.
"This major investment by SSE Airtricity into our business represents an exciting step-forward for the growth of our business and service offering at Activ8, and we look forward to working together with SSE Airtricity as we develop new customer offerings to meet our shared growth ambitions for this rapidly-developing technology sector."